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Novagold Resources Inc New (TSE:NG)
TSX:NG
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Novagold Resources New
(TSX:NG)
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Rating:51Neutral
Price Target:
C$13.00
▼(-7.01% Downside)
The score is held back primarily by weak financial performance (no revenue, widening losses, and continued cash burn), partially offset by a stronger TTM balance sheet and generally constructive project progress and permitting momentum. Technicals are neutral-to-mixed, and valuation support is limited due to ongoing losses and no dividend yield provided.
Novagold Resources New (NG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$5.69B
Dividend YieldN/A
Average Volume (3M)345.88K
Price to Earnings (P/E)―
Beta (1Y)2.57
Revenue GrowthN/A
EPS Growth-92.71%
CountryCA
Employees14
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.06
Shares Outstanding406,927,000
10 Day Avg. Volume283,870
30 Day Avg. Volume345,880
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)-25.92
Price to Sales (P/S)0.00
P/FCF Ratio-97.21
Enterprise Value/Market Cap0.68
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-175.89K
Enterprise Value/Ebitda-51.40
Forecast
1Y Price Target
$19.32Price Target Upside38.18% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Novagold Resources New Business Overview & Revenue Model
Company DescriptionNovaGold Resources Inc. explores for and develops gold mineral properties in the United States. Its principal asset is the Donlin Gold project consisting of 493 mining claims covering an area of approximately 29,008 hectares located in the Kuskokwim region of southwestern Alaska. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc. in March 1987. NovaGold Resources Inc. was incorporated in 1984 and is based in Vancouver, Canada.
How the Company Makes MoneyNovaGold Resources Inc. primarily makes money through the exploration and development of its key gold asset, the Donlin Gold project. Revenue generation for the company is expected to come from the eventual production and sale of gold extracted from this project. The company currently relies on strategic partnerships, most notably with Barrick Gold Corporation, to share the costs and risks associated with developing such a large-scale mining operation. Until production begins, NovaGold's financial strategy involves securing funding from investors and partners to continue its development activities and maintain operational stability.
Novagold Resources New Earnings Call Summary
Earnings Call Date:Oct 01, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Jan 22, 2026
Earnings Call Sentiment Neutral
The earnings call presented a significant positive outlook for the Donlin Gold project with strategic advancements and strong institutional support. However, financial metrics such as increased net loss and decreased treasury present challenges.Q3-2025 Updates
Positive Updates
Significant Progress in Donlin Gold Project
NovaGold's chairman, Dr. Thomas Kaplan, announced that the company is on the path to building the largest single gold mine in the United States, with strategic partnerships and funding opportunities. The project is expected to begin construction in 2027 with production targeted for 2030.
Successful Drill Program Completion
The company completed an 18,000+ meter drill program with high-grade intervals up to 23 grams per ton, indicating potential upside in the Donlin ore bodies.
Strong Institutional Shareholder Support
Over 60% of NovaGold shares are held by top institutional investors, indicating strong support and confidence in the company's future prospects.
Negative Updates
Increased Net Loss
NovaGold reported a net loss of $15.6 million in 2025, an increase of $4.9 million from the prior year, primarily due to higher field expenses and general and administrative expenses.
Decreased Treasury
The company's treasury decreased by $193.5 million to $125.2 million at the end of the third quarter, primarily due to the acquisition of an additional 10% of Donlin Gold.
Company Guidance
During NovaGold's 2025 Third Quarter Report and Donlin Gold Update call, the company outlined several key financial and operational metrics. NovaGold reported a net loss of $15.6 million, an increase of $4.9 million from the previous year, primarily due to higher field and administrative expenses. The company's treasury decreased by $193.5 million to $125.2 million, mainly due to acquiring an additional 10% interest in Donlin Gold. This acquisition, costing $210.1 million, was offset partly by a $25.5 million gain from the exercise of an over-allotment option. NovaGold's share of Donlin Gold's $43 million 2025 budget increased to $24 million. The company aims to complete a bankable feasibility study by 2026, with a construction decision expected thereafter, targeting production by 2031. Operational highlights included the completion of an 18,000-plus meter drill program and advancements in permitting and litigation processes.Novagold Resources New Financial Statement Overview
Summary
NovaGold Resources faces significant financial challenges, with no revenue and persistent losses. The company's negative equity and reliance on debt highlight substantial financial instability.Income Statement
The company has no revenue, leading to negative profitability metrics across the board. Gross profit, EBIT, and net income are all negative, indicating a lack of operational efficiency and profitability. The lack of revenue and high operating losses are significant concerns.Balance Sheet
The balance sheet shows negative stockholders' equity, which is a major red flag. The debt-to-equity ratio is negative due to the negative equity, suggesting high financial leverage. The company's liabilities exceed its assets, which poses a risk of insolvency.Cash Flow
Negative free cash flow and operating cash flow indicate that the company is not generating cash from its operations, which is unsustainable in the long term. The company is relying on financing and investing activities to manage its cash needs.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -22.00K | 0.00 | 0.00 | -7.00K | -7.00K | -7.00K |
| EBITDA | -75.28M | -24.91M | -21.77M | -45.83M | -33.82M | -28.16M |
| Net Income | -89.90M | -45.62M | -46.80M | -53.34M | -40.54M | -33.56M |
Balance Sheet | ||||||
| Total Assets | 345.38M | 109.75M | 133.29M | 159.19M | 198.85M | 224.44M |
| Cash, Cash Equivalents and Short-Term Investments | 8.67M | 101.22M | 125.75M | 125.88M | 169.12M | 121.91M |
| Total Debt | -4.77M | 152.45M | 137.55M | 124.63M | 116.13M | 110.41M |
| Total Liabilities | 168.27M | 157.17M | 141.51M | 129.29M | 120.57M | 113.71M |
| Stockholders Equity | 177.11M | -47.42M | -8.22M | 29.90M | 78.28M | 110.73M |
Cash Flow | ||||||
| Free Cash Flow | -10.03M | -12.64M | -7.79M | -12.37M | -9.66M | -10.02M |
| Operating Cash Flow | -10.03M | -12.64M | -7.79M | -12.37M | -9.86M | -10.02M |
| Investing Cash Flow | -236.86M | 9.36M | -10.33M | -12.36M | 40.39M | 4.72M |
| Financing Cash Flow | 259.50M | -174.00K | 0.00 | -2.12M | -731.00K | -1.65M |
Novagold Resources New Technical Analysis
Positive
13.98
Price Trends
12.79
Positive
11.88
Positive
8.83
Positive
Market Momentum
0.15
Negative
59.63
Neutral
86.21
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NG, the sentiment is Positive. The current price of 13.98 is above the 20-day moving average (MA) of 13.39, above the 50-day MA of 12.79, and above the 200-day MA of 8.83, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 59.63 is Neutral, neither overbought nor oversold. The STOCH value of 86.21 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NG.
Novagold Resources New Risk Analysis
Novagold Resources New disclosed 31 risk factors in its most recent earnings report. Novagold Resources New reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Novagold Resources New Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$6.53B | 14.16 | 17.29% | ― | 5.33% | 143.67% | |
74 Outperform | C$5.77B | 16.27 | 46.21% | ― | 81.13% | 234.33% | |
69 Neutral | $6.19B | 21.52 | 6.84% | ― | 33.74% | ― | |
69 Neutral | C$6.76B | 92.68 | 9.79% | ― | 151.45% | 1224.07% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | C$4.52B | -81.37 | -5.19% | ― | ― | -267.06% | |
51 Neutral | $5.69B | ― | -129.07% | ― | ― | -92.71% |
* Basic Materials Sector Average
TSE:NG
Novagold Resources New
13.98
9.31
199.36%
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Novagold Resources New Corporate Events
Business Operations and StrategyLegal ProceedingsRegulatory Filings and Compliance
NOVAGOLD Advances Donlin Gold Project with High-Grade Results and Key Permits
Positive
Nov 25, 2025
NOVAGOLD RESOURCES INC. announced significant advancements in its Donlin Gold project, including high-grade drill results and favorable legal and permitting milestones. The 2025 drill program yielded high-grade gold intercepts, reinforcing the project’s status as a leading gold development. Additionally, the Alaska Supreme Court upheld key state permits, and the project was accepted into the FAST-41 program, enhancing transparency and predictability in federal permitting. These developments position Donlin Gold as a standout project in the global gold sector, supporting its path to a Bankable Feasibility Study.
The most recent analyst rating on (TSE:NG) stock is a Buy with a C$24.00 price target. To see the full list of analyst forecasts on Novagold Resources New stock, see the TSE:NG Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.